North Dakota Code 44-08-12 – Definitions
As used in sections 44-08-12 through 44-08-14:
Terms Used In North Dakota Code 44-08-12
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Authorized officer” means any official of this state or any of its departments, agencies, public bodies, or other instrumentalities or any of its political subdivisions whose signature to a lease issued by the board of university and school lands, public security, or instrument of payment is required or permitted.
2. “Facsimile signature” means a reproduction by engraving, imprinting, stamping, or other means of the manual signature of an authorized officer.
3. “Instrument of payment” means a check, draft, warrant, or order for the payment, delivery, or transfer of funds.
4. “Public security” means a bond, note, certificate of indebtedness, or other obligation for the payment of money, issued by this state or by any of its departments, agencies, public bodies, or other instrumentalities or by any of its political subdivisions.